Tyranna Resources plans to acquire a 70% stake in the Maongo copper-gold project in Angola, near Namibe. The move aligns with the company’s focus on copper projects suitable for modern exploration techniques. Initial payment of $50,000 to vendor Exploração Mineira (OCJAF) secures exclusive rights pending due diligence.

Upon securing the prospecting license, Tyranna will owe OCJAF $150,000. Positive exploration results require Tyranna to allocate $200,000 in shares to OCJAF. Maongo LDA will own the project, with Tyranna holding 70% and OCJAF 30%. The company is targeting demand-driven metals in Angola.

Tyranna’s managing director, David Crook, highlighted Maongo’s potential for copper and gold, with easy access and a straightforward operating environment. The company’s due diligence confirmed mining and treatment artifacts on-site. Concession approval documentation is in progress, with expectations of approval in the September 2025 quarter.

Read more at Yahoo Finance: Tyranna to acquire 70% stake in Angola’s Maongo copper-gold project